More layoffs at Meta

It’s been an uncertain couple of years to be a Meta employee. Now, even those who survived the job cuts seen at the Facebook parent company over the past 2 years are back in the firing line, with The Verge reporting on Wednesday that Meta is once again laying off employees across its various departments, including WhatsApp, RealityLabs, and Instagram.

After a massive hiring spree across the previous decade, which escalated in the years following the pandemic, headcount at the tech giant peaked at more than 86,000 employees in 2022. However, the company’s post-Covid boom — as well as a very public rebrand into a metaverse-focused company with a name to match — was perhaps too ambitious. As sales declined, and losses in its virtual reality division mounted, the company’s share price tumbled, falling nearly 70% between its summer 2021 peak and the end of 2022.

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